BOP launches ‘First Free Roshan Digital Account’ for NRPs
Top Story
May 9, 2021
LAHORE: The Bank of Punjab (BOP) has launched ‘First Free Roshan Digital Account’ after a rigorous process of monitoring and inspection over a few months to ensure protection of customer interest.
State Bank of Pakistan (SBP) gave its approval to BOP to launch ‘First Free Roshan Digital Account (RDA)’ to join an elite group of banks to launch this Digital Initiative for the non-resident Pakistanis (NRPs), says a press release on Saturday.
Roshan Digital Account is a revolutionary initiative spearheaded by the SBP. For the first time in Pakistan’s history, NRPs are being provided an opportunity to remotely open and operate bank accounts in Pakistan through an entirely digital and online proposition. RDA has attracted over $1 billion in a relatively short period of time.
Daily Times
May 9, 2021
After a rigorous process of monitoring and inspection over a few months to ensure protection of customer interest, State Bank of Pakistan (BoP) gave its approval to The Bank of Punjab (BoP) to launch “First Free” Roshan Digital Account (RDA) for BoP to join an elite group of Banks to launch this Digital Initiative for the Non-Resident Pakistanis (NRPs).
Roshan Digital Account is a revolutionary initiative spearheaded by the State Bank of Pakistan. For the first time in Pakistan’s history, NRPs are being provided an opportunity to remotely open and operate Bank accounts in Pakistan through an entirely digital and online proposition. RDA has attracted over $1 billion in a relatively short period of time. Digital Account holders can also invest in stock market, real estate and “Naya PakistanCertificates” issued by Government of Pakistan, and also contribute in Ehsaas Kifalat Program through their Zakats, Sadqaat etc. There are more products in the pi
Tarin faces challenge to contain inflation without hurting growth
Business
April 18, 2021
KARACHI: Veteran banker Shaukat Tarin who’s been appointed as the new federal finance minister will face daunting challenges to control inflation, spur growth, broaden tax base and support social safety net, analysts and industrialists said on Saturday.
“The key challenge for the recently appointed finance minister is to control inflation, addressing low GDP growth and the spread of the third wave of COVID-19,” Saad Hashemy, executive director at BMA Capital said. “It will be challenging to increase GDP growth while maintaining fiscal discipline. Only if inflation is controlled and interest rates remain low, then there is a chance of some increase in GDP growth.”
The Roshan Digital Account a joint effort of the SBP and federal government was inaugurated by Prime Minister Imran Khan in September. Reuters/File
KARACHI: The Roshan Digital Account (RDA) has started picking up pace as it has crossed $800 million in six months, with the highest amount of $212m received in March, reflecting the rising trend of inflows.
“A big thanks to our Overseas Pakistanis! #RoshanDigitalAccount deposits have crossed $800m, after an inflow of $212m in March. Inflows have been accelerating every month since the RDA launch in September 2020,” the State Bank of Pakistan (SBP) tweeted on Thursday, as the total RDA deposits have reached $806m.
Dollar falls below Rs156 in Pakistan
The greenback value drops by Rs1 in a day SAMAA | Bilal Hussain - Posted: Mar 17, 2021 | Last Updated: 4 days ago SAMAA | Bilal Hussain Posted: Mar 17, 2021 | Last Updated: 4 days ago
Photo: AFP FILE
The rate of dollar dropped to Rs155.60 in the inter-bank market on Wednesday. The last time it traded below Rs156 was on March 10, 2020. Â
The dollar price has dropped by Rs4.30 during 2021, which shows a 2.7% change. The greenback value has decreased by 7.4% or Rs12.45 since it hit Rs168.43 in August last year.
âThe State Bank took several initiatives such as Roshan Digital Accounts last year during the pandemic,â said Zafar Paracha, the secretary of the Exchange Companies Association of Pakistan. âThe dropping rate shows those initiatives have been bearing fruit.â